LSE hits at inconsistent Nasdaq

The London Stock Exchange today accused hostile £2.7bn bidder Nasdaq of being inconsistent in its claims of what could happen if it loses the bid, which closes at the end of this week.

Nasdaq, which has a 28.7% stake in the LSE and is bidding 1243p a share for the rest, has threatened to sell its holding or hang on to it for a while.

But at the same time it suggested it could team up with Project Turquoise, a planned share-trading platform being set up by seven investment banks.

LSE chairman Chris Gibson-Smith, in what is almost certain to be the LSE's final defence blast, said: 'Recent comments from Nasdaq, in particular relating to its long-term intentions and the competitive environment, continue to highlight the inconsistency of its position.

'Its repeated attempts to undermine the value of your company, and therefore of its own investment in it demonstrate how Nasdaq's interests conflict with those of other shareholders.'